House Panel Approves Reg Reform Bill Along Party Lines

After more than two days of debate, the House Financial Services Committee on Thursday approved its sweeping Dodd-Frank Act rollback bill.

The Financial Choice Act, sponsored by Chair Jeb Hensarling, R.-Tex., can now proceed to the House for a full vote from the chamber, which is expected to approve it. Still, it is highly unlikely it will be approved by the Senate. Banking Committee Chairman Mike Crapo acknowledged as much last month, saying large changes would require bipartisan support, which the Choice Act currently lacks.

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